PARAMETRIC TECHNOLOGY CORPORATION
Receives $2.4 Million Follow-On Order for Pro/ENGINEER Software and Services from Steelcase Inc.
Steelcase Standardizes on PTC's Mechanical Design Automation
Software For Its Product Design and Development Activities
WALTHAM, Mass.--(BUSINESS WIRE)--September 1, 1994--Parametric Technology Corporation (NASDAQ: PMTC) announced today that it has received a $2.4 million follow- on order for software and services from Steelcase Inc. of Grand Rapids, Mich. The vast majority of this order reflects seats of Parametric Technology's Pro/ENGINEER mechanical design automation software, which will be shipped to Steelcase during PTC's current fiscal quarter.
Steelcase Inc. is the world's leading designer and manufacturer of office furniture with sales exceeding $2.3 billion worldwide. The company conducted an exten-sive evaluation of CAD/CAM technologies prior to making its decision to stan-dardize on Pro/ENGINEER. The newly ordered software will be used for product design-through-manufacturing applications at various Steelcase sites worldwide.
"We are pleased that Steelcase is expanding the use of our technology to address its most sophisticated product development challenges," said Steven C. Walske, chairman and chief executive officer of Parametric Technology. "When industry leaders, such as Steelcase, make the commitment to standardize on Pro/ENGINEER, that's an excellent indication of our software's ability to help these companies develop their products better, faster and more efficiently."
John J. Gruizenga, senior vice president of quality and technical services at Steelcase, added: "We are very pleased with our Pro/ENGINEER installation and the productivity gains we have achieved to date using this advanced mechanical design automation technology. We are broadening our use of the software throughout our organization because we view Pro/ENGINEER as a strategic means to reduce our time to market while enhancing our product quality."
Parametric Technology's Pro/ENGINEER product family encompasses 30 application-specific modules that address the complete spectrum of mechanical design-through-manufacturing activities. This parametric, feature-based solid modeling technology is used throughout the electronics, aerospace, automotive, and consumer products industries by nearly 4,300 companies worldwide.
Parametric Technology Corporation has emerged as the leader in the mechanical design automation industry. Its new generation of CAD/CAM/CAE technology is revolutionizing the mechanical design automation process with a market strategy that emphasizes technological leadership, aggressive price/performance, hardware independence, worldwide distribution, and extensive customer support.
Pro/ENGINEER is a registered trademark of Parametric Technology Corporation.
CONTACT: Louis J. Volpe John Hudson
Parametric Technology Corp. Parametric Technology Corp.
(617) 398-5000 (617) 398-5000